23 Flipkart Internet Employees makes more than 1 Cr INR Annual Salary

23 Flipkart Internet Employees makes more than 1 Cr INR salary annually. Mekin Maheshwari, as chief people officer, made 18.75 Cr INR as Annual Salary during 2014-15 which is shockingly more than the salaries of top CEOs including ITC Chairman YC Deveshwar and Hindustan Unilever’s Sanjiv Mehta. But Mekin quit in September and now has an advisory role. Statistics is only for Flipkart Internet and excludes wholesaler Flipkart India and Flipkart Logistics.

According to its filing with the Registrar of Companies, Flipkart Internet had over 23 employees who grabbed more than Rs 1 crore in annual salary last year. Flipkart Internet’s employee benefit expenses increased almost 3-times to Rs 476 crore. According to headhunters, everybody at Flipkart at VP, Senior VP or CXO level gets more than Rs 1-1.5 crore as the cash component alone. The biggest packages would be massively lined up towards people in technology and product.Experts said the salary could even rise if other group companies are included. The high salaries confirms that ecommerce companies have a less talented group to fetch from and need to pay well to attract and keep on talent in a business that’s considered riskier than the already established companies. While traditional companies have arrived at a certain scale and operate in a mature market, online players are consistently opting to prove themselves in a Super-Competitive Market.

While ecommerce brands are stepping out FMCG (fast-moving consumer goods), Experts said it is a tough task for them to get the right talent on board, especially at the senior level & sometimes the nature of talent they are looking for is hired from the places like Silicon Valley. Those people who have worked in Google, Adobe, Intuit, etc. & so there is a big premium to be paid.

Flipkart Internet Employees makes more than 1 Cr INR

Flipkart Internet isn’t a match as Hindustan Unilever, which has about 169 executives who grabs 8-digit salaries. IT major Infosys had 123 such employees last year and Wipro had 70. In early 2015, Economic Times reported that ecommerce companies could roll out 500 jobs with salaries exceeding Rs 1 crore each this year.